A rapid slowdown in the rate of U.S. inflation appears to have lost steam, potentially raising questions about how aggressively the Federal Reserve will cut interest rates early next year.

The Federal Reserve cut interest rates by 0.25% on November 7. More interest rate cuts are likely through the end of 2026.

The average 30-year mortgage rate has been above 6% for two years — and is likely to stay above that level for the foreseeable future, experts say. A combination of better-than-